A lot of short term blue sky here...Sydney - Tuesday - March 21:...

A lot of short term blue sky here...

Sydney - Tuesday - March 21: (RWE Australian Business News) -

AED Oil Ltd (ASX code: AED), as operator of AC/P22, reports the Puffin-9
exploration well in the Boneparte Basin off the north coast of Australia
is drilling ahead at 2225 metres in an 8-1/2 inch hole after setting and
cementing 9-5/8 inch casing at 2036 metres.
The well intersected hydrocarbons in the first two of the four
target intervals:
* the UK1a from 2078m to 2083m; and
* the LK1a from 2121m to 2124m based on LWD (Logging While
Drilling) measurements and on cuttings and fluorescence.
AED says the upper interval appears to be oil that correlates
with the same sandstone interval that tested oil at Puffin-2, 1.8km to
the north.
These depths and interpretations are preliminary, to be
confirmed by wireline testing once total depth of 3100m in the Triassic
is reached.
The well is being drilled by the Stena Clyde semi-submersible
rig. Water depth at the location is 78m.